The Financial Accounting Standards Board, which sets the rules for business accounting in the United States, says the objective of financial reporting is to provide current and potential investors and ...

A common reason small companies fail to reach their profit potential or eventually go out of business is poor financial reporting. It's not enough to know what your sales are, how much money you have ...

In May 2013, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released an updated version of its internal control framework (see my previous article “What CFOs Need To Know ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...

In its most recent guidance for compliance with Sarbanes-Oxley section 404 requirements for smaller entities, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has provided ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Suzanne is a content marketer, writer, and ...

On March 30, 2023, the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”), an organization comprising five private-sector organizations with the goal of helping companies ...

As the chief operating officer at a firm specializing in financial and accounting services, I've seen firsthand the immense value that accurate financial reporting brings to a business. Whether you're ...

On Nov. 7, 2016, the SEC instituted and settled a cease-and-desist order against PowerSecure International Inc., alleging it failed to identify and report its segments as required by FASB Accounting ...

Meagan is a former Series 7 financial advisor and current writer focused on blending straightforward information with a dose of humor on topics including equity investments, insurance products, and ...

Fraud risk is one topic that typically finds its way onto the agendas of audit committees. In this article, accounting firm Deloitte advises that, with the current attention to ESG and in anticipation ...